Chipotle Q4 2021 Earnings Report
Key Takeaways
Chipotle Mexican Grill, Inc. reported strong financial results for Q4 2021, with a 22.0% increase in total revenue to $2.0 billion driven by a 15.2% increase in comparable restaurant sales and new restaurant openings. Digital sales grew 3.8% year over year, representing 41.6% of sales. The company opened 78 new restaurants during the quarter, with 86% including a Chipotlane.
Total revenue increased by 22.0% to $2.0 billion.
Comparable restaurant sales increased by 15.2%.
Digital sales grew 3.8% and accounted for 41.6% of sales.
Opened 78 new restaurants, with 86% including a Chipotlane.
Chipotle
Chipotle
Forward Guidance
For 2022, management is anticipating the following: First quarter comparable restaurant sales growth in the mid to high single digits range and between 235 to 250 new restaurant openings (including 5 to 10 relocations to add a Chipotlane), which assumes construction and permit delays related to COVID-19 don’t worsen and an estimated underlying effective full year tax rate between 25% and 27% before discrete items
Positive Outlook
- First quarter comparable restaurant sales growth in the mid to high single digits range
- Between 235 to 250 new restaurant openings
- 5 to 10 relocations to add a Chipotlane
- Assumes construction and permit delays related to COVID-19 don’t worsen
- Estimated underlying effective full year tax rate between 25% and 27%